What Trump said in Texas
In Lubbock, Trump recounted being asked when the Iran war would end and replied, "Whenever I want it to end." He said the finish could come quickly but should be done "properly," with a "total statement" that Iran will never obtain a nuclear weapon. He also said he will soon decide whether to "make a deal" with Iran or "finish it off."
He has argued the U.S. had "virtually unlimited" ammunition in remarks on Sept. 3, even though Washington's conflict with Iran has caused "shortfalls" in U.S. munitions.
The running tab and where it shows up
Voter sentiment is softening alongside higher bills. A Reuters/Ipsos poll on Monday put Trump's approval at 32% as the country heads toward the Nov. 3 midterms amid rising energy and affordability pressures. On Oct. 12, Moody's Analytics chief economist Mark Zandi said the conflict has added about $2,000 to the average American family's costs so far, including $1,100 from pricier energy, $540 from higher interest charges, and $360 tied to increased military outlays.
U.S. Central Command on Oct. 16 estimated the war's cost at $47 billion, about $3 billion higher than prior figures. Most of that reflects replenishing weapons, at $29 billion, and Washington's conflict with Iran has caused "shortfalls" in U.S. munitions. That total excludes certain damage costs; in a separate line item, $184 million covers damage at U.S. diplomatic facilities in Iraq, Kuwait, Saudi Arabia, and the United Arab Emirates caused by Iranian strikes.
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What else is moving and why it matters for your portfolio
Earlier this month, the U.S. evacuated diplomats from Saudi Arabia. Around the same time, The New York Times reported that the U.S. and Israeli militaries had drawn up specific plans for a "short but intensive" campaign to carry out strikes on Iran following the midterms.
In plain English: the conflict's footprint is getting more expensive at home and abroad, from household budgets to weapons inventories and facility repairs. Those pressures can filter into energy prices, defense spending, and rate expectations, all of which feed into earnings and valuations.
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